Martin Lewis has explained how people can get £125 by just making one simple change.
The Money Saving Expert told his fans about a new deal in his weekly newsletter.
The newsletter is full of helpful deals and ways to save cash and this week he told people how they could get a free £125 in cash.
Banks normally offer customers a financial reward for switching to their account, but following the coronavirus pandemic many withdrew their offers.
However now one bank has "finally" introduced a new offer to entice new customers to switch.
HSBC are offering people £125 to switch to their account.
Martin said in his newsletter: "January is usually the month where banks pump out (legal) free cash bribes to get you to switch.
"Yet this year the cupboard was bare, as the only major switching freebie was Virgin Money's wine.
"Finally, in the 2nd week of February, there's a deal where you're paid to switch.
"To get any of the freebies, you need to use the banks' official switching services.
"The switch takes 7 working days, all direct debits and standing orders will be moved for you, your old account will be closed and any payments to it auto-forwarded.
"You also need to pass a credit check, but it's usually not too harsh."
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Martin explained more about the offer and said: "Provided you haven't held an HSBC bank account since Jan 2018, switch to the HSBC Advance account and you can get £125 roughly 20 days after the switch completes.
"You'll also get access to its 1% fixed regular saver, where you can save up to £250/mth.
"You'll need to pay in a min £1,750/mth, which is just its way of saying "pay your salary/salaries in" (equiv to £25,600+/yr). Plus you need to switch two or more direct debits/standing orders across.
"You can still get the offer if you have an account at its sister banks First Direct and M&S Bank, as long as they were opened before 2018."
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